Brevan Howard Capital Management LP Has $747,000 Position in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

Brevan Howard Capital Management LP lessened its holdings in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 25.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 21,366 shares of the company’s stock after selling 7,113 shares during the period. Brevan Howard Capital Management LP’s holdings in Ionis Pharmaceuticals were worth $747,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Signaturefd LLC grew its position in Ionis Pharmaceuticals by 160.0% during the fourth quarter. Signaturefd LLC now owns 949 shares of the company’s stock worth $33,000 after buying an additional 584 shares in the last quarter. Huntington National Bank lifted its position in shares of Ionis Pharmaceuticals by 193.5% during the 4th quarter. Huntington National Bank now owns 951 shares of the company’s stock worth $33,000 after buying an additional 627 shares during the period. Lindbrook Capital LLC grew its holdings in shares of Ionis Pharmaceuticals by 183.8% in the 4th quarter. Lindbrook Capital LLC now owns 1,036 shares of the company’s stock worth $36,000 after purchasing an additional 671 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in shares of Ionis Pharmaceuticals during the fourth quarter worth $107,000. Finally, Vontobel Holding Ltd. increased its position in Ionis Pharmaceuticals by 6.6% in the 4th quarter. Vontobel Holding Ltd. now owns 5,865 shares of the company’s stock valued at $205,000 after acquiring an additional 363 shares in the last quarter. Institutional investors own 93.86% of the company’s stock.

Insider Buying and Selling

In related news, Director Michael R. Hayden acquired 15,000 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The shares were bought at an average cost of $31.86 per share, with a total value of $477,900.00. Following the completion of the purchase, the director now directly owns 50,219 shares in the company, valued at $1,599,977.34. The trade was a 42.59 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Patrick R. O’neil sold 1,207 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $32.35, for a total transaction of $39,046.45. Following the sale, the executive vice president now directly owns 56,245 shares of the company’s stock, valued at $1,819,525.75. This represents a 2.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,027 shares of company stock worth $62,863 in the last 90 days. Insiders own 2.71% of the company’s stock.

Ionis Pharmaceuticals Price Performance

Shares of NASDAQ:IONS opened at $32.75 on Friday. The firm has a 50 day moving average of $30.61 and a 200-day moving average of $33.51. Ionis Pharmaceuticals, Inc. has a 12 month low of $23.95 and a 12 month high of $52.34. The company has a current ratio of 8.47, a quick ratio of 8.82 and a debt-to-equity ratio of 2.12. The stock has a market capitalization of $5.21 billion, a PE ratio of -10.77 and a beta of 0.15.

Ionis Pharmaceuticals (NASDAQ:IONS) last released its earnings results on Wednesday, April 30th. The company reported ($0.93) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.07) by $0.14. Ionis Pharmaceuticals had a negative return on equity of 100.05% and a negative net margin of 64.25%. The firm had revenue of $132.00 million for the quarter, compared to analysts’ expectations of $144.31 million. During the same quarter in the previous year, the business posted ($0.98) earnings per share. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. On average, equities research analysts predict that Ionis Pharmaceuticals, Inc. will post -3.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Needham & Company LLC cut their price target on Ionis Pharmaceuticals from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, April 30th. Redburn Atlantic assumed coverage on shares of Ionis Pharmaceuticals in a report on Monday, March 31st. They set a “neutral” rating and a $39.00 target price for the company. Guggenheim decreased their target price on shares of Ionis Pharmaceuticals from $65.00 to $64.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. StockNews.com upgraded shares of Ionis Pharmaceuticals to a “sell” rating in a research note on Tuesday, March 18th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $70.00 price objective on shares of Ionis Pharmaceuticals in a research report on Thursday, February 20th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $56.67.

Ionis Pharmaceuticals Profile

Ionis Pharmaceuticals, Inc discovers and develops RNA-targeted therapeutics in the United States. The company offers SPINRAZA for spinal muscular atrophy (SMA) in pediatric and adult patients; TEGSEDI, an antisense injection for the treatment of polyneuropathy caused by hereditary transthyretin amyloidosis in adults; and WAYLIVRA, an antisense medicine for treatment for familial chylomicronemia syndrome (FCS) and familial partial lipodystrophy.